The Crypto Daily – Movers and Shakers – July 18th, 2021

Bitcoin, BTC to USD, rose by 0.42% on Saturday. Partially reversing a 1.46% fall from Friday, Bitcoin ended the day at $31,560.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $31,210.0 before making a move.

Steering clear of the first major support level at $30,891, however, Bitcoin rallied to a late morning intraday high $32,000.0.

Falling short of the first major resistance level at $32,118, Bitcoin fell back to $31,300 levels and into the red.

Finding support through the 2^nd half of the day, however, Bitcoin revisited $31,900 levels before easing back.

The near-term bullish trend remained intact, in spite of the latest return to $31,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Crypto.com Coin and Polkadot rose by 1.89% and by 1.73% respectively to lead the way.

Chainlink (+0.59%), Cardano’s ADA (+0.10%), and Ethereum (+1.20%) also joined Bitcoin in positive territory.

It was a bearish day for the rest of the majors, however.

Bitcoin Cash SV slid by 4.28% to lead the way down.

Binance Coin (-0.83%), Litecoin (-0.57%), and Ripple’s XRP (-1.59%) also saw red.

In the current week, the crypto total market rose to a Monday high $1,419bn before falling to a Friday low $1,248bn. At the time of writing, the total market cap stood at $1,282bn.

Bitcoin’s dominance fell to a Thursday low 45.47% before rising to a Saturday high 46.86%. At the time of writing, Bitcoin’s dominance stood at 46.27%.

This Morning

At the time of writing, Bitcoin was up by 0.26% to $31,641.0. A mixed start to the day saw Bitcoin fall to an early morning low $31,514.0 before rising to a high $31,649.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was down by 0.97% to buck the trend at the start of the day.

It was a bullish start for the rest of the majors, however.

At the time of writing, Chainlink was up by 0.87% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the $31,590 pivot to bring the first major resistance level at $31,970 into play.

Support from the broader market would be needed for Bitcoin to break back through to $31,900 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $32,000.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $33,000 before any pullback. The second major resistance level sits at $32,380.

A fall back through the $31,590 pivot would bring the first major support level at $31,180 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000 levels. The second major support level at $30,800 should limit the downside.

This article was originally posted on FX Empire

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